Another strange one, the market internals improved Thursday, much to my surprise. The screened stock ratio did weaken, but not as much as I was expecting after seeing the market. At 7.2 to 5.4 favoring buying the ratio remains positive so the estimate of market risk remains moderate.
Strong groups; biotechs, gaming, homebuilders, software, semiconductors and select retail. Now that the semiconductors are getting some much needed profit taking they should become good plays in the days ahead.
Longs to watch: ABGX, BBBY, CECO, CLX, CPWM, ESRX, GTK, EW, ITMN and TOL.
Good Trading!!
Sam
savvy-trader.com |
